Cambodia Extends Incentives to USD 40 Million Steel Manufacturing Project in Sihanoukville

• webmaster@construction-property.com
• 4 December 2024
• Local News
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The Cambodian government has granted special incentives to Huale Steel (Cambodia) Co., Ltd., a steel manufacturing company in Sihanoukville, with an investment capital of USD 40 million. This decision was finalized during a meeting led by HE Dr. Hean Sahib, Chairman of the Investment Promotion Working Group for Sihanoukville Province, on 25 November 2024.

The company, which received its registration certificate from the Council for the Development of Cambodia on 20 September 2023, specializes in rolling and slitting sheet metal and producing steel structures for construction. (Read more)

The meeting also considered a proposal to grant Cambodian citizenship to two high-potential investors engaged in major projects in the region. These initiatives include aluminum processing and the development of a special economic zone in the Prey Nop district, collectively amounting to USD 110 million in investments and covering 303 hectares. These projects highlight the region’s growing prominence as a hub for industrial and economic activities.

Since its establishment on 31 January 2024, the investment promotion working group in Sihanoukville has approved incentives for 165 projects within just 10 months. These projects align with the government’s broader economic strategy to attract investment and foster industrial growth across key sectors, further cementing Sihanoukville’s position as a key economic zone. (Read more)

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